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Interim Results 30 September 2026 Please send any questions to InvestorRelations@capitecbank.co.za
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2 686k Businesses and entrepreneurs – up 109% 26.6m Total active – up 7% 16.5m Active on app – up 18% 13.5m VAS – up 14% 10.4m Fully banked – up 11% 4.7m Insurance – up 9% Client breakdown • Personal: 25.7 million • Entrepreneurs: 237 000 • Businesses and Forex: 308 000 • Merchants: 141 000 • AvaFin : 200 000 High potential segments • High earners (+R50k pm) up 22% • Multiple - Income Earners up 138% 1.6 million new clients chose Capitec Our large active client base is our platform for scale and growth
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3 • Zero international card fees • Zero forex commission – best rates in the market • 1% cash back reward on all payments • Free travel insurance • Free domestic and international airport lounge access • Travel eSIM ( Dragonpass ) Leading bank for youth Best Credit Card for travel International travel spend grows 24% to R2.4bn across 178 countries 4.9 million clients age 18 to 25 Differentiated client value drives growth • First choice for first bank account in SA • 78% are app clients • Accessible credit to build credit score and access relevant rewards • 57% growth in youth Credit Cards • First option for savings, credit, cover, connect and side hustles
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4 Our culture is our secret weapon • Client first • Energy • Ownership Our founding philosophy To make a meaningful difference in people’s lives, empowering them to grow – we have always wanted to be the bank for 95% of South Africans Differentiated by clear and consistent fundamentals • Simplicity • Affordability • Accessibility • Personalised experience Our commitment to helping people grow 4
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5 Smarter fraud detection • AI identifies and categorises emerging fraud patterns • Emerging patterns detected earlier, enabling faster intervention Turning insight into action • Root - cause insights help prioritise the fixes with the greatest impact • Blocked scam payments saved R229 million in the past 6 months The result • Lowest digital fraud per app client • Lowest industry complaints per client based on Ombudsman report Building the most trusted brand Innovative use of AI and models to keep our clients safe
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6 S ecure Safe hides your account on app New Malware Alerts prevent dangerous apps New Latest innovations keeping our clients safe Trusted Approver for high value transactions Coming soon Scam Check screens links and messages Fi rst in SA 6
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7 The South African economy Formal market growth stumbles, emerging market resilient 1.0% 0.4% 0.3% - 1.8% - 1.9% - 3.0% Electricity, gas & water Construction Agriculture Manufacturing Trade Mining Source: Stats SA Forward - looking risks • Re - escalation of global conflict and global rate hikes • Gambling spend up 25% year - on - year • Super El Niño drought leading to food price shock Emerging opportunities • Non - salary inflows continue to outpace salary growth, resilience in entrepreneurial and emerging market activity (5.8% vs 3.5%) • Public - Private Partnership initiatives continue to support improvements in energy availability, logistics performance and business confidence 7 2026 Q2 GDP Industry growth rates
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8 Forward - looking risks • Re - escalation of global conflict and global rate hikes • Risk of a severe El Niño event driving food inflation 11.5% 4.1% 0.7% 43.2% 1.8% 20.0% 12.5% 11.1% 20.0% Aug 22 Aug 23 Aug 24 Aug 25 Aug 26 CPI food CPI fuel PMBEJD taxi fares ( Sources: Stats SA; PMBEJD Household Affordability Index ) The South African consumer Client affordability faces new headwinds 8 Inflation
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9 4.4% -4% -2% 0% 2% 4% 6% 8% 10% Youth Lower Income Earners Higher Income Earners Entertainment Clothing & Shoes Groceries & Food Transport Aug-26 CPI Our Capitec clients Diversified demand across fully banked clients (Source: Capitec fully banked clients) Diversified spending • Youth (<25) and lower income earners reducing discretionary spending • Higher income earners increasing spend on clothing. Luxury brand purchases up 16% • AI adoption accelerating, with 94 000 clients subscribing to Anthropic and OpenAI services in the last 6 months (422% increase YoY) 9 YoY change in average spend Capitec fully banked clients
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10 CEO Culture | AI, Data and Insights | Single - Service Model PROTECT AND GROW Personal Banking Most Trusted Brand ACCELERATE Business Banking Emerging Markets Connect and Insure THE FUTURE Client Insights and Media Solutions Beyond Borders and… Leading Payment Provider Embedded Finance INCUBATE Growing beyond banking
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Group results Growth driven by people, empowered through technology
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12 12 Headline earnings +19% to R9.5 billion (2025: R8.0 billion) +7% Net interest income to R12.7 billion +21% Credit impairments to R5.7 billion 8.4% Credit loss ratio from 7.9% 70% Non - interest income to income from operations after credit impairments from 65% +21% Non - interest income (incl. Transact, VAS and Connect) to R16.1 billion +32% Funeral and Life cover to R1.8 billion +5% Operating expenses to R10.5 billion 31% Return on equity from 31% Key indicators highlighting quality growth
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13 Capitec Group diversified earnings R9.5 billion Personal Banking 875 branches, 9 053 cash devices Business Banking 20 business centres AvaFin Insurance Fintech (VAS and Capitec Connect) 37% 6% 29% 27% 1%
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14 Total expenses increased by 5% to R10.5 billion Cost - to - income ratio decreased from 40% to 36% 3 200 3 202 1 197 1 251 387 466 456 568 3 604 3 972 1 137 987 Aug 25 Aug 26 Aug 25 Aug 26 Aug 25 Aug 26 Aug 25 Aug 26 Salaries ( excl. IT salaries) IT expenses (incl. salaries) Other expenses Incentives Up 10% Down 13% Up 12% Flat Tech salaries Outsourced resources Tech costs 2 041 2 284
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Personal Banking Serving 26 million clients
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16 Main account with 2% interest 10 Free savings plans and Stokvel account Free Entrepreneur Account Free Capitec - to - Capitec Connect calls Rewards with no subscription fee or tiers An entire ecosystem of value for R7.50 Access to credit based on your needs Access to 875 branches, 9053 cash devices
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17 Our multi - channel distribution advantage 16.5m App clients 11.1m SST clients 14.0m One-to-one clients 4.3m 5.2m Branch + App + SST 2.0m 2.6m Highlights • App and SST is preferred for daily banking needs • One - to - one is preferred for new products and complex needs • 9 new branches and 219 new cash devices since Feb 26 • SST transactions include 594 000 SmartID applications 17 17 Highlights • App and SST is preferred for daily banking needs • One - to - one is preferred for new products and complex needs • 9 new branches and 219 new cash devices since Feb 26 • SST transactions include 594 000 SmartID applications Self - service terminal (SST) Branch App
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18 Personal Banking income diversified 6.3 6.7 7.5 2.0 2.9 3.8 Aug 24 Aug 25 Aug 26 Net transaction income (R billion) Transact VAS & Capitec Connect 8.3 9.6 11.3 8.2 8.8 9.4 0.6 0.7 0.8 0.9 1.0 1.2 Aug 24 Aug 25 Aug 26 Lending income (R billion) Interest income Monthly fees Credit life insurance 11.4 9.7 10.5 Up 18% Up 9%
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Transact Digital adoption continues to drive growth
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20 Digital payment volume growth outpaces cash and card 295 304 310 67 96 123 Aug 24 Aug 25 Aug 26 Cash volumes (million) Send cash Cash 362 400 433 1 336 1 645 1 905 1 100 1 403 1 785 Aug 24 Aug 25 Aug 26 Card and digital volumes (million) Digital transactions Card transactions 2 436 3 048 3 690 3.7 billion card and digital payments – up 21% Up 8% Up 21%
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21 Value: R325 billion (2025: R287 billion) +18% Physical card 1.4 billion transactions Value: R52 billion (2025: R28 billion) +66% Pay wallets 260 million transactions Value: R110 billion (2025: R87 billion) +26% VAS 1.1 billion transactions Value: R13 billion (2025: R10 billion) +21% International and cross - border 51 million transactions Value: R85 billion (2025: R62 billion) E - commerce +33% 404 million transactions (incl. Capitec Pay) E - commerce and pay wallets lead growth Value: R1.6 trillion (2025: R1.4 trillion) +18% Electronic payments 1.1 billion transactions 21
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Credit Prudent management for long - term sustainability
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23 Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb FY25 FY26 FY27 R24.1bn FY25H1 R31.8bn FY26H1 R38.0bn FY27H1 Monthly loan disbursements 23 Increased applications and disciplined granting Highlights • Applications up 21% via improved personalised offers and client engagement • Disbursements up 20% with continuous risk management (over 1 500 micro - refinements) • Selective granting with approval rates of 53.8% and take - up rates of 22.4%
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24 341 691 1 374 Aug 24 Aug 25 Aug 26 R million Clients earning over R50 000 pm Value and simplicity driving growth Up 58% Digital self - service Scaling personalised in - app offers Up 100% 3 941 5 534 8 739 Aug 24 Aug 25 Aug 26 R million Unlocking new growth opportunities Simple digital journeys improve client engagement Better value and rewards strengthen preferred banking relationships Improved granting unlocks growth 158 541 1 530 Aug 24 Aug 25 Aug 26 R million Recognising multiple income streams Gig economy and emerging markets Up 183%
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25 Highlights • CLR increased to 9.2% mainly due to forward - looking (FLI) overlay • Portfolio performance resilient with NPL stable at 19.6% (20.7% in Aug 25) • Additional 0.7% FLI provision charge reflects a prudent risk approach amid macroeconomic uncertainty ( - 0.1% in Aug 25) 4.2% 4.0% 4.0% 0.7% Aug 25 Aug 26 Existing Book Upfront Charge FLI Prudent portfolio performance 25 8.1% 9.2% 4.5%
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26 Personal credit book now exceeds R100 billion 50.5 57.3 9.3 21.8 6.5 17.9 5.0 Aug 21 Aug 22 Aug 23 Aug 24 Aug 25 Aug 26 R66.3bn R101.7bn Term loan Access Facility Credit Card Purpose Loans Personal credit book • Facilities now 39% of book • Continued growth in purpose lending to R5bn Home loan growth • Additional R1.5bn funded through SPV since Dec 25 • 27% increase in registrations in the last 6 months
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[[[[ Capitec Connect Challenging convention and creating more value for millions of clients
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28 Highlights • 1.8 million clients active in the last 3 months – up 64% • 70 million minutes Free Capitec - to - Capitec calling • 4.2 million gigabytes of free data (2025: 0.4 million) 95 311 573 Aug 24 Aug 25 Aug 26 5 15 34 Aug 24 Aug 25 Aug 26 Capitec Connect net income up 72% to R284 million Data usage (Million gigabytes) Up 130% Minute usage (Millions) Up 84% 28
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29 27 000 devices sold in the past 6 months • Order on the app or in branch, delivered in 3 days • Access to premium Apple and Samsung devices • Monthly payments from R181 with zero deposit • Free 5GB data bundles for a year, worth R1 200 Capitec Connect devices New 29
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Savings Supporting everyday and long - term savings needs
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31 R170 billion in deposits demonstrates trust 54 51 51 87 106 119 Aug 24 Aug 25 Aug 26 Personal Banking deposits (R billion) Main Account Savings Plans up R13 billion 141 157 170 70% 68% 62% 31
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32 Highlights • Interest rates from 4% to 7.25% • Notice Deposit Savings represents 12% of Personal Banking deposits (2025: 6%) • R620 million interest earned by clients for the year Notice Deposits grow to 12% of total deposit book 4.4 7.7 Aug 25 Aug 26 8.2 13.4 Aug 25 Aug 26 Up 75% Up 59% 7 - day Notice Deposit balances (R billion) 32 - day Notice Deposit balances (R billion) 32
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Stokvel account for community savings More than 11 million people save through over 800 000 stokvels in SA worth R50 billion in value Launched on 10 September 2026 New 33
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Insurance Continued focus on improving efficiency and scale
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35 Capitec Cover designed to meet our clients needs • Competitive price delivering value from day one • Premiums never increase giving you certainty • No double debiting of premiums • Client benefits over the past 6 months: • 60 000 funerals covered • R3.2 billion paid in claims • Competitive pricing saved our clients R4.8 billion Capitec Cover - for the funeral and everything after 35
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36 405 481 529 Aug 24 Aug 25 Aug 26 In - force sum assured (R billion) Highlights • 49% of policies on our own licence (1.9 million) • Improved claims ratio to 44.2% (2025: 46.2%) • Collections ratio maintained at 90% Up 10% 36 Funeral Cover Lives assured increased by 8% to 17.1 million
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37 22 72 126 Aug 24 Aug 25 Aug 26 In - force sum assured (R billion) Up 75% Life Cover benefit payouts Needs - based Lumpsum Monthlyincome Children’sneeds 26% 23% 51% Life Cover Growing access to meaningful protection
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38 Funeral and Life Cover net insurance result 32% growth year - on - year 1 364 205 221 (38) 66 (22) 1 796 Aug 25 Aug 26 Book growth Funeral cover claims experience Up 28% Impact of yield curve movements and reinsurance Cell investment returns and tax Proactive claims Life cover impact
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39 Building better Cover through continued investment Better claims process • 80% of claims paid out in 24 hours Better products and pricing • New pricing provides better value cover • Voluntary Premium Pause for payment flexibility • App features updated for easier arrears management Better risk management • R155m in fraudulent policies saved protecting our most vulnerable clients Better awareness • Educating our clients that cover means protecting a lifetime, not just a funeral • Starting meaningful conversations today to protect families tomorrow 39
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Business Banking Empowering businesses with more affordable banking, better service and faster credit
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41 41 We exist to help grow SMEs, grow employment and grow the economy Simplicity | Affordability | Accessibility | Personalised experience
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42 Our Business Banking flywheel is yielding results Lower pricing and unique offering More clients More data More lending and cross selling More revenue Improve client experience and reduce cost of banking
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43 43 Website App and o nline b anking Debit and Credit C ard ordering Digital wallets Remote and assisted onboarding New CRM system Replatform to Cloud Services Relationship suite model Business c entres x20 Scored Overdraft Savings and investment accounts Pay - As - You - Trade credit Scored VAF What we have built Intuitive c redit New c ard machines
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44 Saved businesses R548 million since March 2024 R1 Capitec to Capitec payment R3 Debit order R10 Cash withdrawals (per R1 000) at any bank’s ATM in SA R2 Payment to other banks R6 Immediate payment to any bank Free Online b anking and card payments R50 Monthly fee Simple and transparent fees and merchant commission
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45 Highlights • Entrepreneurs up 204% since February 2026 • Business Banking app clients up 51% 116 000 182 000 267 000 82 000 62 000 41 000 237 000 Aug 24 Aug 25 Aug 26 Business clients increase 123% to 545 000 Businesses Forex & CRF Entrepreneurs 198 000 244 000 545 000 Businesses up 47% Client migration to GlobalBiz 45 Up 123%
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46 Leading merchant solutions Highlights • Added 56 000 net new merchants in the past year • 44.0 million transactions in Aug 26 set new monthly record (Dec 25: 42.8 million) Trading merchants Aug 25: 85k YTD Merchant turnover: R42.4bn Aug 24: 32k YTD Merchant turnover: R27.1bn Aug 26: 141k YTD Merchant turnover: R61.8bn 46
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47 Total gross book up 37% to R35.5 billion (incl. CRF) Highlights • Scored lending comprises 12% of the total Business Banking book • Scored loan disbursements were up 76% to R1.9 billion 20.4 24.5 31.3 1.5 4.2 Aug 24 Aug 25 Aug 26 Gross loan balances (R billion) Up 175% Up 29% 21.1 26.0 35.5 Intuitive (incl. CRF) Scored 47 Up 37%
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48 1.5% 1.5% 0.5% 0.6% 0.8% 0.5% Aug 25 Aug 26 Existing book Upfront charge Pay-As-You-Trade FLI 2.1% 3.4% Credit loss ratio increase due to scored lending Prudent management within risk appetite Highlights • Intuitive lending book CLR remained stable at 1.7% • Growth in Scored lending drove increase in CLR • Pay - As - You - Trade launched in December 2025 contributing 0.8% to the CLR • FLI contributed 0.5% of the CLR (2025: 0.1%) 48
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49 Value: R42 billion (2025: R31 billion) +37% Capitec Pay - ins 178 million transactions Value: R705 million Variable recurring payments 1.9 million transactions Value: R1.9 billion Capitec Pay International 2.7 million transactions Value: R62 billion (2025: R42 billion) +60% POS transactions 239 million transactions Value: R24 billion (2025: R17 billion) +21% Debit orders 127 million transactions Enterprise payments New New 49
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50 Business Banking headline earnings up 52% Highlights • Interest income on lending up 34% to R1.9 billion • Net transaction income up 38% to R1.0 billion 353 402 609 Aug 24 Aug 25 Aug 26 Headline earnings (R million) 50
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51 Market share shows runway for growth Business credit Secured and unsecured lending Business deposits Call, Current, Notice and other savings accounts Business Banking Headline earnings 3% 2% 5%
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52 Thank you Please send any questions to InvestorRelations@capitecbank.co.za